Anglo Agrees Coal Mine Stake Sale as Restructuring Continues
- Anglo agrees to sell its Jellinbah stake for A$1.6 billion
- Anglo is looking to simplify business after failed BHP bid
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Anglo American Plc has agreed to sell a A$1.6 billion ($1.05 billion) stake in one of its Australian coal mines, boosting the company’s efforts to execute its turnaround strategy.
Anglo announced a restructuring earlier this year as part of a successful rebuttal of a $49 billion approach from BHP Group, the world’s biggest miner. That plan centered around exiting diamond mining by spinning off or selling its De Beers unit, separating its platinum operations and selling its coal mines.